As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: â€œThe hourly chart shows 20 SMA gaining bullish slope below current price, now around 1.3350 support area, while indicators stand now flat in positive territory. In the 4 hours chart indicators also turned bullish, surging from around their midlines, which suggest not enough upward momentum yet. The key resistance level to watch comes around 1.3415, roof of the daily descendant channel coming from 1.3710, as steady gains above this last will deny the possibility of a bearish continuation and saw the pair approaching the 1.3500 area today,â€ the analyst suggests.
Valeria locates support levels at: 1.3375, 1.3350 and 1.3320, while resistance levels at: 1.3415, 1.3440 and 1.3490.
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